Today the Standing Committee on Industry, Science and Technology begins to dig into the telecoms matter of the day. It would be useful for them to know that cellular service prices have fallen 25 percent over the past five years, a decline that aligns with Ottawa’s promised wireless rate cut. This is important and surprising news for both Canadian consumers and the government.
The Prime Minister’s 2019 Mandate Letter to the Minister of Innovation, Science and Industry provided express political direction to reducing the average cost of cellphone services and expand mobile virtual network operators (MVNO) in the market. It directed the minister to:
“Use all available instruments … to reduce the average cost of cellular…
The global economic lockdown implemented to contain the COVID-19 virus has caused the most severe economic downturn in Canada since the Great Depression of the 1930s. But while production plummeted, the overall income of Canadians hardly budged because of the federal government’s aggressive debt-financed policy response. Including both planned stimulus spending and the effects of the recession on revenues and expenditures, the lockdown-related increase in government debt amounts to about $550 billion.
As I point out in a recent C.D. Howe Institute paper, most of the current discussion around the additional debt focuses on its sustainability — whether it can be rolled over indefinitely without requiring tax…
Canada’s buoyant housing market, with lots of new construction, booming renovations, and a torrid pace of transactions, has been a good news story in a year that had too few. But as underlined in a recent FP article called “The housing boom that never ends,” the news on housing has been a little too good.
Meanwhile, other business investment – in non-residential structures, machinery and equipment, and intellectual property – has languished. We ended 2020 in a troubling place: recent GDP numbers from Statistics Canada showed that private residential investment almost equaled all other types of private investment in the fourth quarter. In other words, almost half of all private non-consumption spending was on housing.…
